InnVest Hotels acquires The Algonquin Resort St. Andrews by‑the‑Sea, Autograph Collection and The Algonquin Golf Course
InnVest Hotels has acquired The Algonquin Resort St. Andrews by-the-Sea, Autograph Collection and The Algonquin Golf Course.
The Main Street City Centre Motor Hotel, located along Main Street between 5th and 6th Avenues in Vancouver, has seen the neighbourhood around it change considerably over the past 60+ years.
The Main Street City Centre Motor Hotel, located along Main Street between 5th and 6th Avenues in Vancouver, has seen the neighbourhood around it change considerably over the past 60+ years. Mount Pleasant includes a wide range of housing forms, an innovation hub, and the Main Street village shopping area. The introduction of the Millennium Line SkyTrain extension along Broadway is anticipated to bring a new wave of change in the coming decades.
Nicola Wealth Real Estate (NWRE) acquired the City Centre Motor Hotel this fall intending to redevelop the property in two to three years in-line with the pending Broadway Corridor Plan. In the meantime, with the motel now closed for business, NWRE intends to give the motel a short-term second life as much needed artist studio spaces—working with The Narrow Group and in partnership with Vancouver Mural Fest (VMF).
The Narrow Group has opened and operated multiple arts and culture spaces in Mt Pleasant and around Vancouver. They look for opportunities to provide artists of all mediums with affordable working space and have been able to use several future development sites for this purpose.
Exactly what a redevelopment proposal may look like has yet to be determined since the Broadway Corridor Plan is still in its draft stages and not expected to be considered by Vancouver City Council until May 2022. Following that, the approvals process is anticipated to take approximately two years from when a rezoning application is submitted, which provides a unique opportunity to introduce a temporary use on site.
InnVest Hotels has acquired The Algonquin Resort St. Andrews by-the-Sea, Autograph Collection and The Algonquin Golf Course.
The new owners of the famed Windermere House hotel and resort on Muskoka’s Lake Rosseau intend to revitalize the building and its amenities while preserving the property’s historical integrity.
Proactive Hospitality has acquired the Coast Osoyoos Beach Hotel, B.C. CFO Capital arranged acquisition financing for the deal.
Tribute Portfolio – part of Marriott Bonvoy's extraordinary portfolio of 31 hotel brands – continues to grow its global family of characterful hotels with Honeyrose Hotel Montreal, a Tribute Portfolio Hotel, the brand's…